The EIA released its weekly Petroleum Status Report today, outlining how national oil and refined product stocks have changed in the last week.
Crude oil stocks fell by 6,495 MBBL last week to 436,491 MBBL, from 442,986 MBBL. This is 10% below the 485,449 MBBL that was in storage at this point last year, and is 10% above the five-year average. This week’s storage draw was above expectations, as the average analyst prediction called for a draw of 3,484 MBBL.
Gasoline inventories rose by 1.2 MMBBL this week, growing to 227.8 MMBBL. Fuel oil inventories grew to 128.8 MMBBL, from 128.1 MMBBL last week. Other refined product stocks fell to 439.8 MMBBL.
The four-week average total crude oil inputs to refineries rose to 17,053 MBOPD, up from 16,997 MBOPD. This means refineries are running at 93.5% of capacity. American refineries produced an average of 10,043 MBBLPD of gasoline and 5,285 MBBLPD of distillate fuel oil over the past four weeks.
